9-1132.   Personal liability of officers and directors, exceptions.Except for persons who are executive officers, an officer ordirector of a bank or national bankingassociation shall have no personal liability to the bank, association or itsstockholders for monetary damages for breach of duty asan officer or director, except that such liability shall not be eliminated for:(a) Any breach of the officer's or director's duty of loyalty to the bank,association or its stockholders; (b) acts or omissions which constitute willfulor gross and wanton negligent breach of the officer's or director's duty ofcare; (c) acts in violation of K.S.A. 9-910, 9-911 or 9-912 and amendmentsthereto; or (d) any transaction from which the officer or director derived animproper personal benefit. Forpurposes of this section, "executive officer" means the chairperson of theboard,the president, each vice president, the cashier, the secretary and thetreasurer of a bank or national banking association, unless such officer isexcluded by resolution of the board of directors or by the bylaws of the bankor national banking association from participation in the policymakingfunctions of the bank or national banking association, and the officer does notactually participate in the policymaking functions of the bank or nationalbanking association.

      History:   L. 1993, ch. 288, § 1; May 20.